U.S. hotel performance fell slightly from the previous week, according to STR‘s latest data through Feb. 4.
Jan. 29 to Feb. 4, 2023 (percentage change from comparable week in 2019*):
- Occupancy: 55.3% (-7.3%)
- Average daily rate (ADR): $145.35 (+13.9%)
- Revenue per available room (RevPAR): $80.45 (+5.6%)
While none of the top 25 markets saw an occupancy increase over 2019, Las Vegas came closest to its 2019 comparable (-1.4% to 78.2%). The market also reported the highest ADR (+79.5% to $221.38) and RevPAR (+76.9% to $173.20) increases over 2019, helped by Design & Construction Week 2023 and the NFL Pro Bowl Games.
The steepest RevPAR declines from 2019 were seen in San Francisco (-33.6% to $136.38) and Seattle (-29.4% to $69.47).
*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019. Year-over-year comparisons will once again become standard after Q1.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editorial Director Stephanie Ricca at sricca@hotelnewsnow.com.